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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended
--- | ---
Jun. 30, 2015 | Jun. 30, 2014
Net income (loss) | $ 482,613 | $ (5,553,554)
Adjustments to reconcile net (loss) income to net cash provided by operating activities: |  |
Provision for (recoveries of previously written off) doubtful accounts | 25,725 | (182,020)
Loss on disposals of fixed assets | 14,953 | 0
Impairment of capitalized software, inventory and related items | 0 | 6,305,947
Depreciation of equipment and leasehold improvements | 559,631 | 734,664
Amortization of product software development expenditures | 0 | 364,539
Stock-based compensation expense | 630,539 | 684,554
Deferred income taxes | 284,783 | (2,608,369)
Change in cash surrender value of life insurance | 150,312 | 120,627
Deferred compensation | (62,605) | (210,204)
Net changes in operating assets and liabilities (see note 17) | (2,125,917) | 4,176,502
Cash provided by (used in) operating activities | (340,590) | 3,591,432
Investing activities: |  |
Life insurance premiums paid | (231,942) | (243,940)
Purchase of equipment and leasehold improvements | (326,613) | (535,868)
Cash used in investing activities | (558,555) | (779,808)
Financing activities: |  |
Dividends paid to stockholders | 0 | (1,771,849)
Cash used in financing activities | 0 | (1,771,849)
Net increase (decrease) in cash and cash equivalents | (899,145) | 1,039,775
Cash and cash equivalents at beginning of year | 1,899,411 | 859,636
Cash and cash equivalents at end of year | $ 1,000,266 | $ 1,899,411

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- Definition The change in cash surrender or contract value during the period which adjusted the amount of premiums paid in determining the expense or income recognized under the contract for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -SubTopic 30 -Section 35 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6384439&loc=d3e42048-111605 + Details
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